Safe Orthopaedics Reports 4Q16 and 2016 Revenue
Safe Orthopaedics posted 2016 revenue of €2.3MM (~US $2.5MM), -6% vs. 2015, with 4Q16 revenue of €0.6MM (~$0.7MM), +8% vs. 4Q15.
Geographic results for the full year:
- France ~$1.2MM, +16%
- Rest of World (excluding U.S.)* ~$1.1MM, +3%
- U.S.* ~$0.1MM, -78%
*U.S. operations were discontinued at the end of 1Q16.
Excluding discontinued U.S. revenue, adjusted 2016 revenue is €2.2MM (~$2.4MM), +10% vs. 2015.
Leadership noted that, in 4Q16, France and export markets (excluding the U.S.) grew +18% and +36%, respectively. Export growth was attributed to both longstanding distribution partners (notably in the U.K.) and 2016 agreements in Chile, Mexico and South Africa.
In 2017, the Safe Orthopaedics plans to increase sales and marketing resources in Germany. Thus far within 2017, the company has announced EU launch of a bone substitute for its Walnut cervical cage.
Sources: Safe Orthopaedics, ORTHOWORLD Inc.